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7682 Mesa Verde Lane Las Vegas, NV 89113

3 Beds 2 Baths 2,007 sqft Built 2003

INVESTimate

$409,000

List Price

$1,750

$1,575 - $1,925

Rent Est.

$431,291  ( +5.45%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $203.79
  • 5 Days on Market
  • MLS # : 2224132
  • Updated Date : 08/24/2020 at 08:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,007 sqft
  • Baths : 2 full
Listing Agent

Investpro Realty

Listing Agent's Description

Welcome home to a beautiful wrought iron gated entry! Laminate wood flooring throughout the house, with tile in the kitchen nook. Great room concept, with a huge living room open to the kitchen. Formal Dining room ( chandelier in d/r will be replaced, does not convey). Secondary bedrooms and bath on one side of the house, Primary bedroom with spa like bathroom is on the other side of the house. Rolladen Shutters through out for energy efficiency and security. Roomy back yard with desert landscaping and lots of patio area. Great North/South exposure in the popular Nevada Trails community.

SEE MORE

MARKET HIGHLIGHTS

  • Las Vegas metro has 61.2% labor force participation rate (USMayors.org, 2018)
  • Las Vegas metro's employment growth was at 2.6% in 2018 and predicted to grow at the rate of 1.7% in 2019 (USMayors.org, 2018)
  • A $7.5 billion mixed-use 6-year project known as Bleutech Park Las Vegas is starting in December 2019. The project will incorporate environmental and technological features such as water purification, on-site waste treatment and localized air cleaning. Described as an “insular mini-city,” the plan calls for use of autonomous vehicles, AI, augmented reality, robotics and other advanced technologies. (reBusinessOnline - France Media, 2019)
  • Las Vegas metro's major employers include: MGM Resorts International, Caesars Entertainment Corporation, Stations Casinos, LLC., Wynn Resorts, Boyd Gaming Corporation, Las Vegas Sands Corporation, Walmart Stores, Cosmopolitan of Las Vegas, The Valley Health System and Supervalu (Las Vegas Sun, 2019)
  • Las Vegas metro's economy was worth $124.9 billion in Gross Metro Product in 2018 and projected to grow to $133.2 billion in 2019 (USMayors.org, 2018)
  • As the largest share, Las Vegas metro contributes to 75.1% of Nevada state's economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Nevada Trails

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $119k520k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Nevada Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10762069

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Judi D. Steele Elementary School Primary Regular 858 43 8
Lawrence And Heidi Canarelli Middle School Middle Regular 1,802 70 NA
Sierra Vista High School High Regular 2,396 88 4

Judi D. Steele Elementary School

  • Education Level: Primary
  • # of students: 858
  • # of teachers: 43
8
GreatSchools Rating

Lawrence And Heidi Canarelli Middle School

  • Education Level: Middle
  • # of students: 1,802
  • # of teachers: 70
NA
GreatSchools Rating

Sierra Vista High School

  • Education Level: High
  • # of students: 2,396
  • # of teachers: 88
4
GreatSchools Rating
 

$368,100$449,900$409,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$1,509
Property Tax -$274
Property Insurance -$66
HOA -$51
Property Management Fees -$119
CASH FLOW
-$269

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$409,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.43%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 4.05%
Appreciation Year (1-5) 5.45%
Maintenance Year (1-5) 8.00%
Vacancy 7.57%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,135

INVESTMENT

$114,135

Down Payment
$102,250
Rehab Estimate
$5,750
Closing Costs
$6,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,509

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $102,250
Loan Amount $306,750
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$9,830

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,750

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,826

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,6993$1,7504$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 7682 Mesa Verde Lane Las Vegas, NV 3
    • 3 beds 2 baths ∙ 2,007 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,007 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
  • 7914 Glowing Sky Avenue Las Vegas, NV 1
    • 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,931 Sqft ∙ Built 2007
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.88
    •  
  • 7890 Hamilton Pool Drive Las Vegas, NV 2
    • 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 2016 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 2016
    property image
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.92
    •  
  • 8026 Mohican Canyon Street Las Vegas, NV 4
    • 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,080 Sqft ∙ Built 2004
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.86
    •  
  • 7882 Hamilton Pool Drive Las Vegas, NV 5
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 2016
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
PROPERTY LISTING DETAILS
Linda S Harper
1.702.371.4603
Investpro Realty
Gabriela Lara
1.866.250.5610
Mynd Property Management
1453579
Greater Las Vegas Association of Realtors ( GLVAR)
MLS #: 2224132
Last Updated: 08/24/2020
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